Obama team: Romney created wealth, not jobs

Even as President Obama’s campaign pressed its attack on Mitt Romney’s record as a venture capitalist, a campaign official went out of her way Tuesday to defend the industry that is contributing large sums of money to the president’s re-election.

“Nobody’s questioning the private equity industry,” said Stephanie Cutter, deputy campaign manager of Obama for America. “No one is challenging Romney’s right to run his business as he saw fit.”

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On Monday, Mr. Obama attended a fundraiser in New York at the Park Avenue apartment of Blackstone Group president Tony James, to mingle with Wall Street executives and collect $35,800 per plate.

The Obama campaign is blasting Mr. Romney’s decisions at Bain Capital, including the shuttering of two medical technology companies in Florida, where the presumptive GOP nominee was campaigning Tuesday. About 850 jobs were lost when those firms closed.

“The goal of Romney economics has always been about wealth creation, not job creation,” Ms. Cutter said. She added that businesses “have the right to fail,” but said it wasn’t fair for Mr. Romney to walk away with millions of dollars “as a reward.”

A spokeswoman for the Republican National Committee said the Obama campaign was engaging in “desperate attacks” because the president is down in several recent polls.

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About the Author

Dave Boyer is a White House correspondent for The Washington Times. A native of Allentown, Pa., Boyer worked for the Philadelphia Inquirer from 2002 to 2011 and also has covered Congress for the Times. He is a graduate of Penn State University. Boyer can be reached at [email protected].